(Wall Street Journal) March 3. – Canadian Imperial Bank of Commerce and Carlyle Group led a $550 million investment in Bermuda’s largest independent bank, Bank of N.T. Butterfield. Read more
Advent Sells Down Midcap Bank Stake
Tags: Brazil, Exits, Financial Services
December 11, 2009 — Advent International’s Brazilian arm has pared down its holdings in Parana Banco by more than 50%, selling 4.27m preferred shares, according to a statement by the bank which does not specify timing of the sale.
Advent Sells Shares in CETIP IPO
Tags: Brazil, Exits, Financial Services, Member firms
Advent International portfolio company CETIP held an initial public offering in late October, raising US$508 million. CETIP shareholders sold 67.8 million shares at a price of 13 reais per share, which was at the lower end of the expected price range. The IPO took place just 5 months after Advent purchased a 30 percent stake in the company for $131 million, which it later increased to 31.93 percent.
Advent Portfolio Company to Go Public
Tags: Brazil, Exits, Financial Services, Member firms
CETIP, Brazilian Securities Clearing House and Depository, has filed for an IPO on the Bovespa. Advent International purchased a 30% stake in CETIP for $131 million in May of 2009. CETIP is the largest central depository for private fixed-income securities and over-the-counter (OTC) derivatives in Latin America. CETIP has not yet set a date for the offering, nor has it specified how many shares it will offer, but early reports estimate that CETIP will raise over $2 billion from the offering. CETIP is the tenth firm to announce an intention to file for a public offering in Brazil since July 31.
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